Kovack Advisors Inc. Acquires 699 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Kovack Advisors Inc. lifted its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 36.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,606 shares of the company’s stock after acquiring an additional 699 shares during the quarter. Kovack Advisors Inc.’s holdings in Royal Caribbean Cruises were worth $362,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RCL. Capital International Investors grew its stake in Royal Caribbean Cruises by 1.2% in the fourth quarter. Capital International Investors now owns 29,309,587 shares of the company’s stock worth $3,795,368,000 after purchasing an additional 351,747 shares during the period. Vanguard Group Inc. grew its stake in Royal Caribbean Cruises by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 25,277,193 shares of the company’s stock worth $3,273,144,000 after purchasing an additional 359,770 shares during the period. Norges Bank purchased a new stake in Royal Caribbean Cruises in the fourth quarter worth $323,251,000. Swiss National Bank grew its stake in Royal Caribbean Cruises by 2.8% in the fourth quarter. Swiss National Bank now owns 760,938 shares of the company’s stock worth $98,534,000 after purchasing an additional 20,600 shares during the period. Finally, Federated Hermes Inc. grew its stake in Royal Caribbean Cruises by 15.4% in the fourth quarter. Federated Hermes Inc. now owns 639,348 shares of the company’s stock worth $82,789,000 after purchasing an additional 85,545 shares during the period. Institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Stock Down 0.8 %

RCL stock opened at $155.38 on Friday. Royal Caribbean Cruises Ltd. has a fifty-two week low of $78.35 and a fifty-two week high of $162.50. The business’s 50-day moving average is $148.65 and its two-hundred day moving average is $134.40. The company has a debt-to-equity ratio of 3.54, a quick ratio of 0.16 and a current ratio of 0.19. The company has a market cap of $39.99 billion, a price-to-earnings ratio of 20.02, a P/E/G ratio of 0.47 and a beta of 2.62.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Thursday, April 25th. The company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.44. Royal Caribbean Cruises had a return on equity of 51.54% and a net margin of 14.28%. The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the prior year, the company earned ($0.23) earnings per share. Royal Caribbean Cruises’s revenue was up 29.2% on a year-over-year basis. As a group, analysts forecast that Royal Caribbean Cruises Ltd. will post 11.1 earnings per share for the current year.

Insider Transactions at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 19,584 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $153.96, for a total value of $3,015,152.64. Following the transaction, the director now owns 179,117 shares of the company’s stock, valued at $27,576,853.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Richard D. Fain sold 19,584 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $153.96, for a total value of $3,015,152.64. Following the transaction, the director now owns 179,117 shares of the company’s stock, valued at $27,576,853.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jason T. Liberty sold 50,000 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $139.63, for a total value of $6,981,500.00. Following the completion of the transaction, the chief executive officer now directly owns 153,017 shares in the company, valued at approximately $21,365,763.71. The disclosure for this sale can be found here. Insiders have sold 152,884 shares of company stock valued at $22,052,985 over the last quarter. 7.95% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on RCL shares. Macquarie increased their target price on Royal Caribbean Cruises from $145.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, March 15th. Argus increased their target price on Royal Caribbean Cruises from $161.00 to $172.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. UBS Group increased their target price on Royal Caribbean Cruises from $154.00 to $168.00 and gave the stock a “buy” rating in a research note on Tuesday, May 14th. JPMorgan Chase & Co. increased their target price on Royal Caribbean Cruises from $173.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, June 24th. Finally, Mizuho increased their target price on Royal Caribbean Cruises from $164.00 to $168.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $161.13.

Royal Caribbean Cruises Profile

Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, and Silversea Cruises brands, which comprise a range of itineraries. As of February 21, 2024, it operated 65 ships. Royal Caribbean Cruises Ltd.